Recently, the Solana-based Bonk Inu (BONK) has captured attention following the news of its listing on Coinbase, leading to a surge of over 500%. This development has sparked considerable excitement within the Solana community. However, market experts are cautioning about a potential sell off. Instead, their positive outlook is focused on Pandoshi, a newly introduced DeFi token, which they believe offers superior utility value compared to Bonk.
Bonk Inu is a meme coin that gained attention in the Solana ecosystem through an airdrop late last year. According to its whitepaper, Bonk positions itself as Solana’s “community coin.” The initiative aims to counteract the impact of “predatory VC (venture capital) tokens” by redistributing control to the community. During the previous Christmas season, Bonk distributed 50% of its total supply to NFT collectors and DeFi traders within the Solana network.
Currently, Bonk’s price stands at 0.00002461, experiencing a 14.44% decrease in the past 24 hours. It ranks as the third-largest meme coin with a market capitalization of $1.5 billion. After an initial surge of over 500% following the announcement of a Coinbase listing, Bonk’s price trajectory is beginning to level off.
However, market experts are not optimistic about Bonk’s future prospects, citing concerns over its vast supply of 100 trillion tokens. Furthermore, as a meme coin with limited practical use, Bonk’s value is subject to significant market volatility. There’s a risk that its popularity may wane as newer meme coins enter the scene.
Coincodex forecasts a 4.77% decrease in Bonk’s price, predicting it will trade at around $0.00002416 by Christmas. The site also anticipates that Bonk’s price will fluctuate between $0.00002699 and $0.00003917 throughout 2024.
Pandoshi represents a decentralized finance (DeFi) ecosystem that includes a variety of tools designed to enhance users’ engagement with the blockchain industry. It aims to go beyond mere financial transactions to build a robust, community-focused platform that upholds principles of decentralization and privacy.
Central to Pandoshi is the native cryptocurrency, PAMBO, which goes beyond the typical meme coin narrative. PAMBO is the cornerstone of the entire Pandoshi ecosystem, with the team recognizing its significant long-term potential, as outlined in their comprehensive roadmap.
The Pandoshi ecosystem offers several features tailored to users, such as PandoshiSwap, a decentralized exchange (DEX) that facilitates direct peer-to-peer trading, bypassing intermediaries and KYC requirements, thereby maintaining privacy and security in transactions.
Pandoshi is set to roll out various decentralized products designed to integrate smoothly with one another, like PandaChain, a Layer-2 blockchain solution aimed at reducing transaction fees and increasing speed. These initiatives are foundational for all Pandoshi projects and community activities, ensuring low transaction costs.
A critical focus of Pandoshi’s strategy is enhancing its presence on crypto exchanges. The team is actively working to list PAMBO on major exchanges, both DEXs and CEXs, to boost its trading volume and visibility. This move is expected to elevate PAMBO’s profile in the cryptocurrency market significantly.
Pandoshi took to Twitter recently to announce a thrilling update: they are progressing faster than expected and are gearing up for the beta launch of the Pandoshi Wallet. This advancement is taking place amidst their ongoing presale phase, marking an important milestone for the project.
The upcoming beta release of the wallet is set to initially support all chains compatible with the Ethereum Virtual Machine (EVM). There are also intentions to expand its functionality to include non-EVM chains in future updates. Designed for wide accessibility, the wallet app will be available for users on both Android and iOS platforms.
Community engagement is also a key priority for Pandoshi. The team has launched several initiatives to cultivate a dynamic and involved community around PAMBO. This approach is not just about promoting PAMBO but also about building a robust ecosystem supporting it.
Pandoshi recently initiated a significant giveaway, distributing a total of $100,000 to 10 fortunate community members. Participation requires active involvement in the Pandoshi community. This giveaway is a gesture of appreciation from Pandoshi to its supporters and aims to foster a sense of unity. For those interested in participating or learning more, further details are provided on the Pandoshi website.